Published on 7/24/2012 in the Prospect News Municipals Daily.
New Issue: Fairfax County, Va., sells $90.71 million of 2012 sewer revenue bonds
By Sheri Kasprzak
New York, July 24 - Fairfax County, Va., sold $90.71 million of series 2012 sewer revenue bonds, according to a pricing sheet.
The bonds (Aa1/AAA/AAA) were sold competitively. The issuer did not respond to requests for the winning bidder by press time Tuesday evening.
The bonds are due 2013 to 2035 with term bonds due in 2038 and 2042. The serial coupons range from 2% to 5%. The 2038 bonds have a 4.5% coupon priced at 113.187 and the 2042 bonds have a 4.5% coupon priced at 112.85.
Proceeds will be used to finance capital improvement programs at the county's Norman M. Cole, Jr., Pollution Control Plant, District of Columbia Water and Sewer Authority Blue Plains Advanced Wastewater Treatment Plant, Alexandria Renew Enterprises' water treatment plant, Arlington County's water treatment plant and Loudoun Water's Broad Run water treatment plant.
| Issuer: | Fairfax County, Va.
|
| Issue: | Series 2012 sewer revenue bonds
|
| Amount: | $90.71 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Pricing date: | July 24
|
| Settlement date: | Aug. 8
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.44 million | 2013 | Serial | 2% | 101.701
|
| $1,475,000 | 2014 | Serial | 3% | 105.188
|
| $1.53 million | 2015 | Serial | 4% | 110.466
|
| $1.6 million | 2016 | Serial | 5% | 117.474
|
| $1.68 million | 2017 | Serial | 5% | 120.988
|
| $1.77 million | 2018 | Serial | 5% | 123.581
|
| $1.86 million | 2019 | Serial | 5% | 125.747
|
| $1,955,000 | 2020 | Serial | 5% | 127.467
|
| $2,055,000 | 2021 | Serial | 5% | 128.877
|
| $2.16 million | 2022 | Serial | 5% | 127.726
|
| $2.27 million | 2023 | Serial | 5% | 126.492
|
| $2,385,000 | 2024 | Serial | 5% | 125.553
|
| $2.51 million | 2025 | Serial | 5% | 124.714
|
| $2.64 million | 2026 | Serial | 5% | 123.974
|
| $2,765,000 | 2027 | Serial | 4.5% | 118.743
|
| $2,895,000 | 2028 | Serial | 4.5% | 118.12
|
| $3,025,000 | 2029 | Serial | 4.5% | 117.501
|
| $3,165,000 | 2030 | Serial | 4.5% | 116.885
|
| $3.31 million | 2031 | Serial | 4.5% | 116.274
|
| $3,465,000 | 2032 | Serial | 4.5% | 115.666
|
| $3,625,000 | 2033 | Serial | 4.5% | 115.062
|
| $3.79 million | 2034 | Serial | 4.5% | 114.547
|
| $3,965,000 | 2035 | Serial | 4.5% | 114.034
|
| $13.03 million | 2038 | Term | 4.5% | 113.187
|
| $20,345,000 | 2042 | Term | 4.5% | 112.85
|
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